Tampa, Florida - There is a lot to digest from Wednesday night's first presidential debate. So we are breaking it down for you with PolitiFact Florida. Fact-checkers are hard at work putting both candidates to the truth test.

We'll start with this statement by President Barack Obama:

"Governor Romney's proposal that he has been promoting for 18 months calls for a $5 trillion tax cut, on top of $2 trillion of additional spending for our military. And he is saying that he is going to pay for it by closing loopholes and deductions"